Traders Purchase High Volume of Celestica Call Options (NYSE:CLS)

Celestica Inc. (NYSE:CLS) (TSE:CLS) saw some unusual options trading on Tuesday. Investors acquired 5,725 call options on the company. This is an increase of 54% compared to the typical daily volume of 3,709 call options.

Analyst Ratings Changes

A number of brokerages have commented on CLS. TD Securities lifted their price target on Celestica from $33.00 to $40.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. CIBC boosted their target price on Celestica from $33.00 to $41.00 and gave the stock an “outperform” rating in a report on Wednesday, January 31st. Royal Bank of Canada boosted their price target on Celestica from $38.00 to $47.00 and gave the stock an “outperform” rating in a research note on Monday. BMO Capital Markets upped their price objective on Celestica from $37.00 to $48.00 and gave the company an “outperform” rating in a research report on Monday. Finally, StockNews.com lowered Celestica from a “buy” rating to a “hold” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Celestica presently has a consensus rating of “Moderate Buy” and an average price target of $36.38.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Clearstead Advisors LLC purchased a new stake in shares of Celestica during the third quarter worth $32,000. Principal Securities Inc. acquired a new position in Celestica in the fourth quarter valued at $42,000. Byrne Asset Management LLC boosted its stake in shares of Celestica by 78.6% during the first quarter. Byrne Asset Management LLC now owns 1,250 shares of the technology company’s stock worth $56,000 after buying an additional 550 shares during the period. Covestor Ltd acquired a new stake in shares of Celestica during the third quarter worth about $68,000. Finally, Blue Trust Inc. boosted its stake in shares of Celestica by 128.6% during the fourth quarter. Blue Trust Inc. now owns 2,460 shares of the technology company’s stock worth $72,000 after buying an additional 1,384 shares during the period. 67.38% of the stock is currently owned by institutional investors and hedge funds.

Celestica Stock Performance

CLS stock traded up $1.31 during midday trading on Tuesday, reaching $44.29. The stock had a trading volume of 844,422 shares, compared to its average volume of 2,197,562. The stock has a market cap of $5.28 billion, a PE ratio of 21.17 and a beta of 2.22. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.75 and a current ratio of 1.40. The firm has a fifty day simple moving average of $44.10 and a two-hundred day simple moving average of $33.87. Celestica has a 52-week low of $10.50 and a 52-week high of $51.12.

Celestica (NYSE:CLS) (TSE:CLS) last released its quarterly earnings data on Monday, January 29th. The technology company reported $0.76 earnings per share for the quarter, beating analysts’ consensus estimates of $0.68 by $0.08. Celestica had a return on equity of 17.09% and a net margin of 3.07%. The business had revenue of $2.14 billion during the quarter, compared to analyst estimates of $2.08 billion. As a group, equities research analysts anticipate that Celestica will post 2.59 EPS for the current year.

About Celestica

Celestica Inc provides supply chain solutions in North America, Europe, and Asia. It operates through two segments: Advanced Technology Solutions, and Connectivity & Cloud Solutions. The company offers a range of product manufacturing and related supply chain services, including design and development, new product introduction, engineering services, component sourcing, electronics manufacturing and assembly, testing, complex mechanical assembly, systems integration, precision machining, order fulfillment, logistics, asset management, product licensing, and after-market repair and return services.